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Help Promote Programs That Work: Neighborhood Assistance Program Promotes Private Investment in Communities
Tuesday, April 22, 2014
You can help us create jobs and homes in PA! As housing professionals, we know firsthand what affordable housing development can do for the most vulnerable populations of Pennsylvania, especially the homeless, seniors, children, and those with disabilities. Improvements to the Neighborhood Assistance Program (NAP) Tax Credit would enable more community revitalization projects to be built throughout the state, helping the economy and helping those who are in most need of assistance.
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NAP became a national model after it was established in 1967. Â However, more recent tax credit programs have higher credit rates, making NAP less competitive.Â
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Rep. Killion is introducing legislation that will make NAP more competitive. He is proposing increasing appropriations from $18 to $36 million, increasing the credit rate, and providing tax credits to nonprofit and for profit developers of affordable housing. The proposed amendments to the program will make it more effective in creating economic opportunity in Pennsylvania.
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Please contact your state representative’s office today. Tell them we need to update and expand NAP in order for it to provide more affordable homes, create job growth, stabilize communities, and improve the economy.Â
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